Money Management Executive Latest News

Michael Rogers has been promoted from Executive VP to President of Investors Financial Services, the company announced today.

StockJungle.com closed its last mutual fund product today, liquidating assets and informing shareholders via email of its decision. The fund had approximately 500 shareholders with $1.6 million in assets under management.

Fidelity Investments Institutional Brokerage Group has enhanced its investor-level web site, allowing broker/dealers to offer their clients customized views of market information and to make online bill payments, the company announced yesterday.

Lord Abbett has appointed James ‘Doc’ Savage as director of public fund marketing, the firm announced today. The newly created position was added as part of an overall initiative to expand the firm’s institutional investment business, the company said.

Fidelity Investments has tapped Boston ad agency Arnold to service an advertising account estimated to be worth $100 to $120 million, it was reported this week. Arnold will replace Hill, Holliday, Connors, Cosmopulos on the account, which involves the mutual fund and retirement markets.

Two mutual fund providers, offering a combined 67 funds, have enlisted an investment research hub to provide information about their products to investors, it was announced today.

Hansruedi Huber has resigned as chief investment officer of the European Warrant Fund, an $87 million closed-end fund, the company announced this week. It was unclear why he resigned.

The International Association of Machinists and Aerospace Workers, one of the nation's largest unions, has selected CitiStreet to administer its 401(k) plan, it was announced this week. The company will service employees who participate in the National Pension Plan or other defined benefit plans.

Jeffrey Davis will leave State Street Global Advisors to become Rockefeller & Co.'s chief investment officer, it was announced this week.

Turner Investment Partners has launched a new hedge fund unit, called Ascendant Capital Partners, and named Gary Shugrue as its chief investment officer, the company announced today. Shugrue will run the new business with Turner chief operating officer, John Grady.